In order to access fast growing Asian respiratory markets, UK-based Vectura has formed a joint venture (JV) with Tianjin KingYork, a Chinese pharmaceutical company and specialist manufacturer of corticosteroid-based products, and Zendex Bio Strategy, a Hong Kong-based private equity investor. KingYork will hold a 50% stake in the JV, which is named Tianjin Kinnovata Pharmaceutical, with Vectura and Zendex holding 35% and 15%, respectively. The deal is the latest partnership between a foreign drug developer and a local pharmaceutical company to facilitate drug development and commercialisation in China.